Santoni has seemingly found its sweet spot at a time of global upheaval and slowdown in luxury spending.
The Italian luxury brand logged growth in the first half of 2025 as it continues to invest in retail, women’s and the U.S. market — tariffs notwithstanding.
In the six months ended June 30, sales at the storied shoe label increased 10.5 percent, compared to the same period in 2024, to 64.2 million euros — lifted by the direct-to-consumer channels.
“This is the result of work done already in 2023 and 2024. I believe that sticking to our product-centric vision and obsession with quality — and offering products that are value for money has allowed us to navigate this moment,” executive chairman Giuseppe Santoni told WWD and FN.
“We have always respected our clients,” he said, noting how the generalized euphoria on price increases — which he called “sometimes unjustified,” has impacted consumer confidence in their favorite luxury brands.
Retail registered a 46.3 percent jump in the first half, driven by brisk performance at Santoni‘s flagships, with notable strength in New York City, Miami and Milan. Revenues from digital channels — fueled by recent investments in technology infrastructures and a new app — increased 23.5 percent year-over-year.
Currently accounting for 30 percent of the business, retail has become a primary avenue of growth for the brand.
As reported, this year Santoni relocated two of its flagships, moving its Manhattan boutique three blocks uptown at 667 Madison Avenue and expanding its presence on Milan’s Via Montenapoleone with a bigger unit. Both stores introduced the new retail blueprint developed by architect and designer Patricia Urquiola.
Santoni store on 667 Madison Avenue in New York City designed by Patricia Urquiola.
Courtesy of Santoni
Currently accounting for 20 percent of sales, the U.S. remain a top priority for the shoemaker.
“We remain optimistic. In light of our positioning and price strategy, we see opportunities to tap into,” Santoni said. “The question mark is not only on tariffs, but also on the dollar depreciation, which could impact [prices] by an extra 10 to 15 percent,” he opined.
“For sure this will require [the industry] to rethink the positioning of European products in the U.S. market, with a focus on higher-end goods. There is no doubt that some [luxury] products cannot be produced in the U.S. or sourced [anywhere else] besides Europe,” he said, drawing a parallel with the Old Continent’s dependence on the U.S. and Asia for technology goods.
A stitcher during thread preparation.
Oliver Pilcher/Courtesy of Santoni
In an earlier interview with FN, the executive chairman said that the shoemaker was forging ahead with new openings in the U.S. between the end of 2025 and early 2026.
Those plans are on standby given the global uncertainty, but the executive stressed that the company’s commitment to the market has remained unchanged.
In the first half of 2025, Santoni’s turnover in the U.S. increased by 15 percent, with retail sales at its Madison Avenue boutique growing 45 percent year-on-year.
The U.S., Italy and Switzerland are the only countries where Santoni operates its stand-alone stores directly, while relying on local partners elsewhere. In addition to New York, Miami and Milan, it has boutiques in Forte dei Marmi and Saint Moritz.
“The franchising channel is also on the rise, with more openings lined up,” Santoni said. Overall, there are 24 boutiques globally.
The brand counts more than 600 wholesale accounts worldwide, a tally Santoni believes is adequate for its positioning. The executive said there are no plans to expand the store base or trim it down significantly.
Santoni said the company is also looking to diversify its geographic footprint, especially in the Middle East, where it currently operates two boutiques at The Dubai Mall and The Avenue Mall in Kuwait. Also on tap is an opening in Doha, as well as Japan, where it is only distributed via the wholesale channel.
Inside Santoni’s new Madison Avenue boutique.
Courtesy of Santoni
Overall, Santoni predicts 2025 sales will reach 130 million to 135 million euros, up from 118 million euros in 2024. “The final figure in that range really depends on how the global circumstances will evolve,” he said.
The executive chairman is forging ahead following the departure of Eraldo Poletto, the first external chief executive officer appointed in 2023. Poletto left the company last August, and Santoni said there are no plans to onboard a new manager for the time being.
In addition to geographic expansion, the brand — established as a men’s only footwear firm in 1975 — has been expanding its women’s offering, first introduced in the ‘90s.
The move is paying off, the executive chairman said.
“Our female clients are increasingly appreciating our products’ quality, style and design, as well as brand value. They are approaching us no longer as a men’s footwear brand doing women’s too, but rather as a legitimate player in that space, with credible collections,” Santoni said.
The Santoni family and some of the artisans at the brand’s ateliers.
Oliver Pilcher/Courtesy of Santoni
Marking its 50th anniversary this year, the brand has released a book with Assouline titled “Santoni Meraviglia,” referencing the Italian word for wonder. The book traces the evolution of the company from a family-run workshop established by Andrea Santoni in Corridonia, in Italy’s Marche shoemaking region, to a global player.
